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There are more important things in life than work – your family, home and lifestyle. However accidents can happen. Virgin Income Protection can help replace lost income if you’re sick or injured and unable to work, with an option to include involuntary unemployment.

Why choose Virgin Income Protection Insurance?

Award-winning cover6.

Tailored cover - for up to 85% of your income, up to $10,000 per month. Answer some health and lifestyle questions to apply and you could reduce your premiums.

Optional cover for involuntary unemployment. This cover is not available for purchase online. To apply, please call us on 1300 814 990.

And the winner is… you.

We love winning awards10. But these awards tell us that when it comes to getting great value income protection, there’s one real winner – you. Because you can be confident that you’ll get the cover you need at a price you can afford.

Sickness, injury or involuntary unemployment could seriously affect your lifestyle and the world you’ve worked so hard to build. Don’t chance it. Income Protection can help replace lost income, so you can protect what you love when things aren’t going your way.

What is Income Protection insurance?
Income Protection can help replace some of your income if you’re unable to work due to sickness or injury. Optional Involuntary Unemployment Cover is also generally available, so you can protect yourself if you’re suddenly unemployed due to involuntary unemployment, and actively seeking work. This cover is not available for purchase online. To apply, please call us on 1300 814 990. The money can be used to help replace lost income and to support you and your family to cover everyday expenses. The money could also assist with your recovery and see you back to full capacity. You really have the freedom to use your payments however you choose to.

When you take into consideration all the day to day expenses the average family needs to sort out, it adds up over time.

Typical family’s ongoing expenses:

Mortgage

Bills

Medical bills and health insurance

Groceries

Other debt repayments

Car insurance & expenses

School fees

Other living expenses

How does it work?

Tell us a bit more about your health and lifestyle and you could reduce your premiums.

Choose the amount of income you’d like to cover
If you are Working more than 20 hours per week, you can cover up to 85% of your income, to a maximum of $10,000. If you are not Working or work less than 20 hours a week, cover up to $3,000 a month is available. Involuntary Unemployment cover up to 85% of your income up to $3,000 a month for up to 3 months is available if you are employed on a permanent basis for a minimum of 30 hours per week.
We generally calculate income as your before-tax-average over the 12 months which preceded your sickness or injury. If you’re self-employed, your business expenses are taken out of your before-tax income to calculate your personal income.

Unsure how much cover to get? Generally you should consider your family’s monthly expenses, such as the cost of meeting a mortgage and other debts. Don’t forget quarterly or yearly bills as well, such as school fees. Then compare these expenses with how much income has been lost if you are unable to work. You should also consider any other income or investment sources you have coming in, to help weigh up the true costs. Remember the point of Income Protection insurance is to provide a stream of income if you're not able to work or perform your usual daily activities for an agreed period of time.

Choose a Waiting Period
Virgin Income Protection offers options for how long you wait before benefits commence if you are unable to work. You can choose a Waiting Period of 14, 28, 60 or 90 days. And remember, the longer the Waiting Period you choose, the lower the cost of your cover.

Some common Sicknesses and Injuries may qualify for Bonus Cover. If your Sickness or Injury qualifies for Bonus Cover, then the Benefit will accrue from the start of the Waiting Period and will be payable after 28 days, for the specified Bonus Cover Period, provided you are continuously Out of Action for this time. If the Sickness or Injury does not qualify for Bonus Cover, then the Benefit will accrue from the end of the Waiting Period.

Choose a Benefit Period for Sickness and Injury Cover
Virgin Income Protection has options for the maximum amount of time you receive payments if you are unable to work. You can choose a Benefit Period of 6, 12 or 24 months. For our Tailored option, there is also an option for a 5 year Benefit Period.

During the Benefit Period, you won’t need to pay anything towards your plan, and once your payments start, we’ll refund any premiums you may have paid during the Waiting Period.

Choose from a range of optional extras
With our range of additional cover options, you can add on benefits that are just right for you.

Involuntary Unemployment Cover. This cover can be added to your policy, but is not available for purchase online. To apply, please call us on 1300 814 990.

We all work hard and over time our financial commitments and responsibilities get bigger, so we need to protect them and ourselves. Whatever your working situation or occupation, we have an income protection cover option for you.

Why choose Virgin Income Protection insurance

TAILORED COVER - Tell us about your health and lifestyle and you could reduce your premiums. If you’re in stable employment and working, you can cover up to 85% of your income, up to a maximum of $10,000 per month.

OPTIONAL COVER FOR INVOLUNTARY UNEMPLOYMENT Involuntary Unemployment Cover may also be available, to help while you’re looking for work if you’ve been made involuntarily redundant for up to 85% of your income for up to $3,000 per month for up to 3 months. This cover can be added to your policy, but is not available for purchase online. To apply, please call us on 1300 814 990.

Cover for more people

Whatever your working situation – full time, part-time, self-employed.

Wide occupation list - over 1,000 jobs covered

Bonus Benefits
Benefits for some common injuries, such as broken bones, and illnesses such as a heart attack accrue faster, starting from day one of your Sickness or Injury provided it qualifies for Bonus Cover (a 28 day waiting period applies before benefits are payable). This will help ease the financial burden so you can focus on full recovery. See the Product Disclosure Statement (PDS) for details.

Flexible

Choice of Waiting Period from as little as 14 days

Choice of Benefit period for 60 months

Decrease or apply to increase your level of cover at any time to accommodate any changes to your working situation - whether you get that pay rise you’ve been waiting for or go part-time

Tell us about your health and lifestyle and you could reduce your premiums

Who is it for?

Aussie Residents aged 18-60,

For people in stable employment who are happy to answer some health and lifestyle questions to potentially reduce their premiums

Those who want to know if they can get cover for pre-existing medical conditions

What is the maximum cover amount?

If you’re Working more than 20 hours per week:

Up to 85% of your pre-tax monthly income, up to a maximum of $10,000 per month

How long is my Waiting Period?

Choice of 14, 28, 60, or 90 day Waiting Period

How long will my benefit be paid for?

Choice of 6, 12, 24 months or 5 year Benefit Period

What am I covered for?

Sickness and Injury. You can also get optional Involuntary Unemployment Cover if you are self-employed or working on a permanent basis for a minimum of 30 hours per week, up to 85% of your income up to $3,000 per month for up to 3 months. This cover is not available for purchase online. To apply, please call us on 1300 814 990.

Conditions apply.

What isn't covered?

No Sickness and Injury or Permanent Disability Cover Benefit will be payable for:

Cancer, stroke or heart attack, at any time in the first 6 months after the cover commencement date;

The taking of intoxicating liquor;

The taking of drugs (other than those prescribed for the Life Insured by a Medical Practitioner and taken in the correct dosage);

Normal and uncomplicated pregnancy;

Terrorism, civil commotion or unrest, guerrilla or insurgent activities in a country outside Australia, if the Australian

Government had advised against travel to that country;

War or Act of War;

The Life Insured committing or attempting to commit a criminal offence;

Any other specific exclusion stated in your Policy Schedule.

If the Life Insured was not able to, or not partially able to, perform his or her regular daily activities before cover commenced, then a benefit may not be payable under this policy at any time.

No Benefit is payable under this Policy in respect of a Life Insured who is in jail or otherwise lawfully detained.

What additional cover options are available?

Permanent Disability Cover
This option pays out a lump sum if you are permanently disabled and unable to perform the regular daily activities necessary for you to maintain physical independence. Conditions apply.

Holiday Injury Cover
Doubles the payout of the first month’s benefit (up to a maximum of $3,000), if the accidental event leading to your claim happens during state school and public holidays or while you’re 200km or more from home. Conditions apply.

Kids Injury Cover
Provides a cash payout to help with costs associated with the treatment and recovery of common childhood injuries, or the time an adult may be off work to be with their child. Conditions apply.

Further exclusions and conditions may apply and will be detailed in your policy document.

Read the PDS
Sure, it’s a few minutes of your life, but it’s worth it—just so you know exactly what you’re covered for. Download the PDS.
Any questions on our cover options? We’re here to help. Just call our friendly customer care team on 1300 814 990.

Call us

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Virgin Income Protection is available to Australian Residents between 18-60 years of age. Applications subject to acceptance. Cover limits, exclusions and conditions apply. Premiums vary depending on personal circumstances and generally increase with age and cover. Please read the Product Disclosure Statement for further information.

This information is of a general nature only and does not take into account your personal financial situation, needs or objectives. For this reason, you should consider the appropriateness of this information, having regard to your personal financial situation, needs and objectives as well as the Product Disclosure Statement and Financial Services Guide before deciding whether to buy or continuing to hold this product. View Privacy & Security information.

Up to $10,000 per month, up to 85% of pre-tax income available with our Tailored Cover option.

$1 per day could provide $3,000 sickness & injury cover per month, for a 35 year old white collar non-smoker male with a 6 month Benefit Period & 28-day Waiting Period, under Tailored option. For example, $5 a week could provide Sickness & Injury Tailored Cover of $1,500 a month for up to 2 years for a 35 year old male non-smoker, employed in a sedentary white collar occupation, after a 28-day waiting period. Premiums vary depending on personal circumstances and increase with age and level of cover.

On the spot cover for eligible Australian Residents aged 18-60 with our Quick & Easy option. Exclusions apply including pre-existing medical conditions, suicide, and dangerous activities. See the Product Disclosure Statement for more information

TAL Life Limited as issuer of Virgin Life Insurance is a member of the Financial Services Council (FSC) and a participating life insurance member in these initiatives.

In order for Bonus Cover to be payable, a Bonus Cover Event must occur. These are specified illnesses and injuries, set out and defined in the PDS. If a Life Insured’s Sickness or Injury qualifies for Bonus Cover, the Benefit will accrue from the start of the Waiting Period and will be payable after 28 days (provided the Life Insured is continuously Out of Action for this time). Refer to the PDS for details.

The quoted redemption fares are correct as at 17 December 2018 and are subject to change. Fares are subject to availability, and seats are limited and may not be available at peak times or on all flights. Price is based on a one way or return economy Reward Seat fare or business Reward Seat fare as specified, and must be booked on the Velocity website. Taxes, fees and carrier charges are payable in addition to Velocity Points redeemed and are not eligible for Points earn. Price may vary until ticketed. All payments made on the internet or on the phone via debit/credit card are subject to a payment surcharge between 0.6% to 1.3% of the total value of the card transaction (capped at $70 per passenger per booking). For Rewards Seat bookings on: (i) Virgin Australia operated flights; (ii) Delta Air Lines operated and marketed flights between Sydney and Los Angeles; or, (iii) Etihad Airways operated flights, a carrier charge will apply, view more information here. Add $40 or 5,200 Points for international short haul bookings or $70 or 8,800 Points for international long haul booking per person for bookings made on the phone. A checked baggage allowance is included in your fare, view Reward Seat Baggage Allowances for details. Name changes are not permitted. Other changes, refunds and cancellation are permitted prior to travel and may incur a fee and any applicable fare difference. You may also be entitled to a refund under the Australian Consumer Law in certain circumstances. View the Velocity Rewards Seat fare rules for more information. Some flights may be operated by a partner airline. Different baggage allowances and conditions may apply to these flights. Full terms and conditions at velocityfrequentflyer.com.

For more info on claiming your Income Protection premiums visit https://www.ato.gov.au/Individuals/Income-and-deductions/Deductions-you-can-claim/Other-deductions/Income-protection-insurance

Virgin Income Protection’s Tailored cover option won the Canstar award for Outstanding Value in Direct Income Protection 2015, 2017-2019, the award for Exceptional Value Income Protection Mozo Experts Choice Award 2019, and Best Income Protection in the Finder 2019 Awards. Product reviewed against other insurance providers, for pricing and product features. To find out more visit the Canstar, Mozo and Finder websites.